Ampex Corp: Digital Storage Message Board

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Technology Stocks : Ampex Corp: Digital Storage

AMPX 10.05

0.0%

12:38 PM EST

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To: papa bear who wrote (2245)	3/11/1997 1:35:00 AM
From: Art Ebbands	of 3256

Dollar Bill/Ron, Here's my read on the technicals. I basically agree with what you have said but remember these are strictly short term technical indicators used mainly for trading vice establishing long term positions. I'll add a few more short term techs. Slow stochastic has just turned positive; MACD slightly negative but ready to cross into bullish territority; CCI negative but improving; momentum shows oversold market; parabolics turned postive Thursday; money flow shows slight distribution; OBV slightly positive. You like the RSI: well one of the more positive signs is the long term RSI shows AXC more oversold than it has ever been (not that it can't get more oversold). Bottom line as I see it on short term techs: Mixed bag but beginning to trend positive meaning short term rally. Best thing going for AXC now is the chart itself. Look at the solid support in the 6 to 6 1/2 area going back a long time. Down moves should be contained in this area. Heavy resistance exists in the 8 to 8 1/2 area. Both 50 day & 200 day MA now at 8 1/4. 50 day MA is now breaking below 200 day MA which is not a good sign. Any rallies will probably be met with resistance in upper 7's, and stock should trade in this range for some time. To break decisively above 8 will take some extra good news from AXC. Stock needs to get decisively above 8 1/4 and hold there to turn long term technicals positive. Institutions for the most part won't participate in stocks whose long term trend and technicals are weak. They don't want dead stocks. Many scoff at TA as some pseudo science which it very well may be, but nevertheless many of the big guys use it to base their entry/exit positions (not emotion). Momentum players only use TA. Those that don't use it are at a disadvantage. Good luck to all, AE

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